Texas Mold Claims Mushroom to $4 Million

They grow things bigger in Texas, and that includes insurer payouts for mold damage. Over the past three years, Texas insurers have paid out just...

May 27, 2003

They grow things bigger in Texas, and that includes insurer payouts for mold damage. Over the past three years, Texas insurers have paid out just under $4 billion in mold-related claims. In 2000, claims totaled $420 million. In 2001, claims reached $1 billion and peaked in 2002 with $2 billion. Since then, the cost of mold claims has been declining, with most homeowners policies either limiting mold coverage or excluding it altogether. The Insurance Council of Texas, a carrier group, says mold claims have represented a larger monetary loss for insurers than any weather catastrophe to strike the state. More